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China’s Toutiao Seeks $30 Billion Valuation in Latest Fundraising

The company behind Jinri Toutiao, a popular Chinese news and video feed app, is in talks to raise new funds from some of its existing investors at a valuation of $30 billion or higher, people familiar with the matter said.

The fundraising hasn't been completed. Some of the people familiar with the talks said that $28 billion is the bottom of the valuation range being discussed. The people declined to say how much the company is raising.